Something that we have created is a gift fund. We opened a high interest savings account at ING Direct, they will allow you to open 5 separate savings accounts.
Our gift fund was established so that we would not have to resort to credit cards when Christmas or other occassions arise. Christmas obviously being the big one. With both of us combined we buy for 22 people!! I have set up our gift fund to allow for $2000.00/ year for gifts. This will also include anniversaries, birthdays, Christmas, weddings, or any other occassions requiring a gift. Once the money runs out too bad so sad. What's the worst- it may force us to be more creative with our gift giving??
The other bonus is that as we are constantly amassing funds in this account if we see things on sale we can buy them. For example we noticed that Canadian Tire has this fantastic sale on a tent that is a tent with a screen house attached on sale for $119.00 normally $179.99, Mr. K's sister and her boyfriend are always borrowing a family members tent and one of their main complaints is that there isn't a separate area for good, shoes etc. When we saw this we knew it was perfect. This will be a double Christmas/Birthday gift for both of them.
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